Australian junk food chain Guzman y Gomez (GYG) is aiming to raise A$ 242.5 million ($ 160.75. million) in a June initial public offering, according to a. business declaration on Friday, in a deal that would be the. country's biggest new share sale in a year.

GYG is wanting to offer 11.1 million shares at A$ 22 each. which will value the food cycle that specialises in Mexican food. at A$ 2.2 billion.

The deal will be made up of A$ 200 million in primary. profits and A$ 42.5 million from a secondary selldown from some. existing investors.

A raising of the proposed size would make GYG's IPO the. largest in practically a year, because Redox raised in A$ 404. million in mid-2023.

Australian IPO activity fell 75% in the first quarter of. 2024, according to LSEG data, as the outcome of unstable worldwide. financial markets dimming the confidence of companies and. investors to buy into brand-new offers.

GYG raised A$ 135 million in a pre-IPO financing ealier. this year which valued business at A$ 18 a share or A$ 1.76. billion, according to the company's executives. The round purchased. in QVG Capital, Firetrail Investments, Cooper Investors and. Hyperion Asset Management as investors.

There were requests at the time for substantially more. stock than we could accommodate, GYG's co-chief executive. Hilton Brett told Reuters.

Our pre-IPO investors have long had a strong choice. for us to be noted. We have actually been getting ready for a long time, the. service is ready and we have been trading effectively.

The four pre-IPO round financiers, along with Conscious Super,. are cornerstone shareholders, whose need has completely. underwritten the IPO. The ownership of those 5 investors will. be scaled back after the offer is finished.

Institutional shareholders TDM Development Partners and. Barrenjoey Private Capital will remain on the share pc registry. after the IPO.

GYG started in Sydney in 2006 and now has more than 200. restaurants globally, according to its website

GYG's board, senior management and existing significant. shareholders will represent about 62% of the company's provided. capital on a completely watered down basis after the IPO, the company. said.

GYG shares will begin trading on the Australian Securities. Exchange on June 20.